By Chris Becker
Another record high for stocks today as calm settled over Florida and Korea, with the UN sanctions not having a tit-for-tat response yet from the North. This has sent Yen down against USD giving risk assets a big leg up, not just in Asia, while King Dollar remains steady against the other undollars, particularly Pound Sterling where the latest inflation figures surprised on the upside. It looks to be another positive day here in Asia led by Japanese stocks.
Recapping Asia yesterday the Shanghai Composite was basically unchanged at 3379 points as it fails again to rise above resistance at 3400 points.. The daily chart continues to show a lot of congestion here at just below that level, so if broken the upside move should be quick:
